Comments on: Readers Share Lending Club Returns

By: Henry

Henry — Fri, 01 Jul 2011 18:12:30 +0000

Return: 6.04%
Loans: 105
Paid off: 1
No late, default, or charged offs
(2 loans were late but are current now)
Started to invest in march 2011
only invest in Refinance of Credit Card and Debt Consolation
Distribution:
A1/A2 54%
A3 17%
A4 13%
A5 11%
B 4%

By: Bad Biker Bob

Bad Biker Bob — Sun, 06 Feb 2011 13:29:16 +0000

I currently earn 12.22% I have
2481 loan issued and current
101 loan payed off
6 Late 16 – 30 Days
34 Late 31 – 120 Days
3 Default
16 Charged off
If you divide 19/2481 loans you get about a .77 percent default rate.
I only invest in 3 types of loans Refinance of Credit Card, Debt Consolation and Medical Expenses. I did not invest in people getting more debt to pay more stuff or invest in business loans. If people need to buy more stuff they should save up and buy it. I invest money in helping people get out of trouble not getting into more trouble. I
also invest in highest paying loans first.
My actual return without defaults would be about 14%. So far lending club seems like it
is Okay.

By: Lending Club Launches Tool to Track and Compare Loan Performance - The Dough Roller

Sat, 13 Jun 2009 12:26:44 +0000

[...] Readers Share Lending Club Returns (@My Dollar Plan) [...]

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[...] Unemployment at Being FrugalBuying Life Insurance: What Kind and How Much? at Good Financial CentsReaders Share Lending Club Returns at My Dollar Plan — Lending Club investor are sharing their experiences. Mine is not so [...]

By: Mike

Mike — Tue, 09 Jun 2009 00:43:00 +0000

I have two LC accounts. One is a SIMPLE IRA. Between the two accounts, my returns are about 11.5%. I had one borrower (C level loan) declare bankruptcy after making one loan payment. All other loans are current. I was able to sell the note on the trading platform, albeit at a discount, but that salvaged my yield going to 0 on that particular note. My loan distribution is about 50% A, 25% B, 20% C, and the remainder in the lower echelons. My new loans are going into A’s or B’s exclusively and I’m searching out loans below 5k to fund. I don’t think LC is paying enough interest on loan levels C or below to warrant the much larger inherent default risk.

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[...] Readers Share Lending Club Returns (@My Dollar Plan) [...]

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By: This Week in Review - Another Graduation Edition | The Personal Finance Playbook

Fri, 05 Jun 2009 12:04:10 +0000

[...] Readers Share Lending Returns @ My Dollar Plan – I would really like to throw my hat in the peer to peer lending foray, just because I think it makes so much sense. If I have extra money and would like to make a decent return on it, and you would like to borrow money and are willing to pay that return, then this is one way to accomplish that goal. I think being able to see how each of these people are doing is helpful. Except for Pinyo, who went for the highest returns, everyone seems to be doing pretty well. I’ll let you know how it goes when I start to try this (probably sometime reasonably soon). [...]

By: DR

DR — Fri, 05 Jun 2009 01:12:28 +0000

Maybe we should pitch in and give Pinyo some of our returns!

By: Patrick

Patrick — Thu, 04 Jun 2009 20:04:09 +0000

I should have mentioned that all my loans were Grade A loans. I decided I preferred the boring vanilla variety over the higher risk, higher reward. The returns have been much better than a CD or savings account, but of course there is higher risk as well.

Interesting to read everyone else’s results!

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[...] Readers Share Lending Club Returns [...]

By: Rob G

Rob G — Thu, 04 Jun 2009 00:40:15 +0000

Madison:

Thanks for posting about our members’ returns on Lending Club. Your sample has a variety of levels of investments, strategies and performance, but overall I see some high numbers there.

Within the next couple of days, we’ll be rolling out a new feature that will allow you to see the distribution of the entire lending club investor community, and compare yourself to other investors.

Happy to report the platform wide average net annualized return number is well above 9%.

Cheers
Rob Garcia from Lending Club

By: Seansonfire

Seansonfire — Wed, 03 Jun 2009 22:00:46 +0000

I am a Prosper Lender(prosper.com), and have been for about 3 years. The only advice I have (which it seems one of your members learned) is stay away from anything but AA and A.

There is little or no insentive for people with C or D rating to pay you back. People can and will use these online lending marketplaces as last resorts in hard times.

Focus on individuals that have no defaults and business that are trying to expand. Avoid businesses that are new, or have fallen on hard times.

I have had above 18% returns over the past two years, but have shifted my monthly money to the stock market as of middle of last year because the value is stronger there, but I still have 12 notes on prosper from the last couple of years.